Anil Singhvi’s Strategy March 4: Day support zone on Nifty is 15,000-15,065 & Bank Nifty is 35,750-35,850

Amid negative global markets, positive foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, March 4, 2021.

Domestic shares rallied for a third straight session on Wednesday, March 3, 2021, led by gains in banks, financials and metal stocks. The BSE Sensex regained 51,000-mark while the NSE Nifty reclaimed 15,000 level. The Sensex closed 1147.76 points, or 2.28 per cent, up at 51,444.65 and the NSE Nifty surged 326.60 points, or 2.19 per cent, to finish at 15,245.60. The Nifty Bank grew 948.35 points, or 2.68 per cent, to close at 36,368.05. 

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The broader market at BSE also gained underperforming the Sensex. The Mid-Cap index ended 1.45 per cent up while the Small-Cap index appreciated 1.34 per cent.   

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 4:

Day support zone on Nifty is 15,000-15,065, below that 14,900-14,925 strong support zone. 

Day higher zone on Nifty is 15,175-15,200, above that 15,240-15,315 is profit-booking zone. 

Day support zone on Bank Nifty is 35,750-35,850, below that 35450-35575 strong support zone.

Day higher zone on Bank Nifty is 36,100-36,350, above that 36,450-36,600 is profit-booking zone. 

Small Day Range for trading on Nifty is 15,065-15,200, the medium and bigger ranges are 15,000-15,245 and 14,925-15,315, respectively. 

Small Day Range for trading on Bank Nifty is 36,000-36,450, the medium and bigger ranges are 35,750-36,550 and 35,575-36,750. 

FIIs increased Index long at 65% vs 59%.

PCR at 1.44 Vs 1.20.

India VIX down by 6% at 22.09.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,000.

Bank Nifty intraday and closing stop loss are 36,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,325.

Bank Nifty intraday and closing stop loss are 36,600.

For New Positions:

Sell Nifty with a stop loss of 15,250 and target 15,100, 15,065, 15,000, 14,925, 14,900. 

Buy Nifty in 14,925-15,000 range with a stop loss of 14,875 and target 15,065, 15,100, 15,150, 15,200.

For New Positions:

Sell Bank Nifty with a stop loss of 36,600 and target 36,000, 35,850, 35,750, 35,575, 35,425. 

Buy Bank Nifty in 35,575-35,750 range with a stop loss of 35,400 and target 35,850, 36,000, 36,100, 36,350.

2 Stocks In F&O Ban:

New in Ban: IB Housing Fin

Already in Ban: SAIL

Out of Ban: Nil

Stock of the Day:

Buy Gujarat Ambuja Export Cash: Stop loss 130 and target 150, 160. For Investment target 200. Company to benefit from huge Inventory gain due to the sharp price rise of corn in the USA. Trades at Attractive Valuations.